In consideration of the expected withdrawal of the United Kingdom from the European Union the UK payment service providers (PSPs), represented through ‘UK Finance’, filed an application in December 2018 with the European Payments Council to be able to maintain the participation of the UK in the ’s schemes in the event of a no-deal withdrawal from the European Union (“no deal Brexit”).
The EPC publishes today a decision on the subject.
The Board, at its 7 March 2019 meeting, has taken the decision to approve the application from UK Finance for the continued participation of UK in the schemes after 29 March 2019 in the event of a no-deal Brexit.
Find out more in the newly published decision paper here below.
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